2326
THE NEW ZEALAND GAZETTE.
[No. 81

Order in Council consenting to the Raising of a Loan of £23,000 by the Waiapu County Council and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 30th day of November, 1936.

Present:
THE RIGHT HON. M. J. SAVAGE PRESIDING IN COUNCIL.

WHEREAS the Waiapu County Council (hereinafter called “the said local authority”) being desirous of raising the sum of twenty-three thousand pounds (£23,000) by a loan to be known as “Wharf and Approaches Loan, 1936” (hereinafter called “the said loan”), for the purpose of rebuilding the wharf and approaches thereto at Tokomaru Bay, has complied with the provisions of the Local Government Loans Board Act, 1926 (hereinafter called “the said Act”), and it is expedient that the precedent consent of the Governor-General in Council as required by the said Act should be given to the raising of the said loan:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, acting by and with the advice and consent of the Executive Council of the said Dominion, and in pursuance and exercise of the powers and authorities conferred on him by section eleven of the said Act, as set out in section twenty-nine of the Finance Act, 1932 (No. 2), and of all other powers and authorities enabling him in this behalf, doth hereby consent to the raising in New Zealand by the said local authority of the said loan for the said purpose up to the amount of twenty-three thousand pounds (£23,000), and in giving such consent doth hereby determine as follows :—

(1) The term for which the said loan or any part thereof may be raised shall not exceed twenty (20) years.

(2) The rate of interest that may be paid in respect of the said loan or any part thereof shall be such as shall not produce to the lender or lenders a rate exceeding three pounds ten shillings (£3 10s.) per centum per annum.

(3) The said loan or any part thereof, together with interest thereon, shall be repaid by equal aggregate annual or half-yearly instalments extending over the term as determined in (1) above.

(4) The payment of such instalments shall be made in New Zealand, and no instalment shall be paid out of loan-moneys.

(5) The rate payable for brokerage, underwriting, and procuration fees in respect of the raising of the said loan or any part thereof shall not in the aggregate exceed one-half per centum of any amount raised.

(6) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

C. A. JEFFERY,
Clerk of the Executive Council.

(T. 49/317/1.)

Order in Council consenting to the Raising of a Loan of £5,000 by the Motueka Harbour Board and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 30th day of November, 1936.

Present:
THE RIGHT HON. M. J. SAVAGE PRESIDING IN COUNCIL.

WHEREAS the Motueka Harbour Board (hereinafter called “the said local authority”) being desirous of raising the sum of five thousand pounds (£5,000) by a loan to be known as “Harbour Channel Restoration Loan, 1936,” for the purpose of restoring the channel entrance to the Motueka Harbour, has complied with the provisions of the Local Government Loans Board Act, 1926 (hereinafter called “the said Act”), and it is expedient that the precedent consent of the Governor-General in Council as required by the said Act should be given to the raising of the said loan:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, acting by and with the advice and consent of the Executive Council of the said Dominion, and in pursuance and exercise of the powers and authorities conferred on him by section eleven of the said Act, as set out in section twenty-nine of the Finance Act, 1932 (No. 2), and of all other powers and authorities enabling him in this behalf, doth hereby consent to the raising in New Zealand by the said local authority of the said loan for the said purpose up to the amount of five thousand pounds (£5,000), and in giving such consent doth hereby determine as follows :—

(1) The term for which the said loan or any part thereof may be raised shall not exceed fifteen (15) years.

(2) The rate of interest that may be paid in respect of the said loan or any part thereof shall be such as shall not produce to the lender or lenders a rate exceeding three pounds ten shillings (£3 10s.) per centum per annum.

(3) The said local authority shall before raising the said loan or any part thereof make provision for the repayment thereof by establishing a sinking fund under the Local Bodies’ Loans Act, 1926, or under such other statutory enactment as may be applicable, and shall thereafter make payments to such sinking fund at intervals of not more than one year at a rate or rates per centum which shall be not less than five pounds four shillings (£5 4s.), such payments to be made in respect of every part of the said loan for the time being so borrowed and not repaid, the first such payment to be made not later than one year after the first day from which interest to the lender or lenders is computed on the said loan or any part thereof so raised.

(4) The payment of interest and the repayment of principal in respect of the said loan shall be made in New Zealand.

(5) No amount payable as either interest or sinking fund in respect of the said loan shall be paid out of loan-moneys.

(6) The rate payable for brokerage, underwriting, and procuration fees in respect of the raising of the said loan or any part thereof shall not in the aggregate exceed one-half per centum of any amount raised.

(7) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

C. A. JEFFERY,
Clerk of the Executive Council.

(T. 49/558/4.)

Order in Council consenting to the Raising of a Loan of £4,000 by the Masterton Trust Lands Trustees and prescribing the Conditions thereof.

GALWAY, Governor-General.
ORDER IN COUNCIL.
At the Government Buildings at Wellington, this 30th day of November, 1936.

Present:
THE RIGHT HON. M. J. SAVAGE PRESIDING IN COUNCIL.

WHEREAS the Masterton Trust Lands Trustees (hereinafter called “the said local authority”) being desirous of raising the sum of four thousand pounds (£4,000) by a loan to be known as “Earthquake Damage Restoration Loan, 1936” (hereinafter called “the said loan”), for the purpose of restoring the Opera House Buildings, £3,000, and liquidating the balance of the “Earthquake Damage Loan, 1934,” £1,000, has complied with the provisions of the Local Government Loans Board Act, 1926 (hereinafter called “the said Act”), and it is expedient that the precedent consent of the Governor-General in Council as required by the said Act should be given to the raising of the said loan:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, acting by and with the advice and consent of the Executive Council of the said Dominion, and in pursuance and exercise of the powers and authorities conferred on him by section eleven of the said Act, as set out in section twenty-nine of the Finance Act, 1932 (No. 2), and of all other powers and authorities enabling him in this behalf, doth hereby consent to the raising in New Zealand by the said local authority of the said loan for the said purpose up to the amount of four thousand pounds (£4,000), and in giving such consent doth hereby determine as follows :—

(1) The term for which the said loan or any part thereof may be raised shall not exceed twenty (20) years.

(2) The rate of interest that may be paid in respect of the said loan or any part thereof shall be such as shall not produce to the lender or lenders a rate exceeding three pounds ten shillings (£3 10s.) per centum per annum.

(3) The said local authority shall provide for the repayment of the said loan from revenue by the annual redemption of debentures of not less than two hundred pounds (£200) each extending over the term as determined in (1) above.

(4) The payment of interest and the redemptions in respect of the said loan shall be made in New Zealand.

(5) No amount payable as either interest or redemption in respect of the said loan shall be paid out of loan-money.

(6) The rate payable for brokerage, underwriting, and procuration fees in respect of the borrowing of the said loan or any part thereof shall not in the aggregate exceed one-half per centum of any amount raised.

(7) No moneys shall be borrowed under this consent after the expiration of two years from the date hereof.

C. A. JEFFERY,
Clerk of the Executive Council.

(T. 49/451/1.)